With the new UK Innovator Founder Visa, foreign nationals can settle in the UK by setting up a business there. However, the new UK Innovator Founder Visa has replaced the previous Innovator Visa and Start-Up Visa.
This visa is specifically for individuals intending to settle in the UK via business immigration criteria. The permit allows individuals to set up and run an innovative business in the UK. In addition, the business or the business idea must also be endorsed by an approved body.
The new route has been designed to be more flexible for applicants with genuine business proposals and a clear intent to settle in the UK. However, the demonstration of funds is a primary difference that sets this new route apart from the prior categories.
The qualifying criteria of the new UK innovator founder visa tends to be more compliant than previous business visas.
The applicants are no longer required to show £50k minimum funds to set up a business in the UK, although it’s advisable they have sufficient funds to establish the business.
In addition to it, the eligibility criteria include the following requirements to be met by the business proposal:
In addition, the sole purpose of the business should also be to favor the UK’s economy.
The Innovator founder visa allows you to establish a new business or take over an existing one in the UK. This visa category offers the opportunity to start a new venture in a thriving business environment and take advantage of the UK's robust economy.
The Innovator founder visa allows successful applicants to live and work in the UK for up to three years, with the possibility of extension for an additional three years. After five years on this visa, applicants may be eligible to apply for indefinite leave to remain (ILR).
The Innovator founder visa offers a great deal of flexibility, allowing visa holders to bring their family members to the UK and travel in and out of the country without any restrictions. Visa holders may also work in other jobs or businesses as long as they continue to fulfill their visa requirements.
A primary challenge remains the compliance of the business idea with the endorsing bodies in the UK. That’s where the Global Migrate makes the distinction.
The applicants must seek an endorsement with one of the three bodies in the UK. However, the proper presentation and business idea proposal always remains challenging for most investors.
Our expert immigration attorneys and business immigration consultants deal with similar matters. Our years of expertise and proficiency in dealing with endorsing bodies always create worth for our clients.
The applications for the UK Innovator Founder Visa are open now. If you want to apply, contact us to pave the way for your complex immigration matters.
Would you like to find out more or check if you are eligible? If yes, please use the APPLY NOW to check your eligibility.